We must make sure that new framework of fiscal rules facilitates investments (FinMin Bolos)

We must make sure that new framework of fiscal rules facilitates investments (FinMin Bolos)

We must ensure that the new framework of fiscal rules facilitates investments, including for countries with a smaller fiscal space such as Romania, considers the Minister of Finance, Marcel Bolos.

He participated on Tuesday in the meeting of the Economic and Financial Affairs Council (ECOFIN), held in Brussels.

The finance ministers of the European Union adopted the conclusions of the Report on the Alert Mechanism 2024 and the Annual Analysis of Sustainable Growth 2024, respectively the recommendation for the economic policy of the Eurozone, the minister wrote on his Facebook page.

According to the quoted source, this is the first step for the initiation of the annual process of the European Semester for monitoring the economic, employment and fiscal policies of the member states.

One of the conclusions of the 2024 Alert Mechanism Report is the need for a better integration of the Macroeconomic Imbalances Procedure into the economic governance framework, which is currently under review.

"We must make sure that the new framework of fiscal rules facilitates investments, including for countries with a smaller fiscal space such as Romania, while maintaining solid public finances", said Marcel Bolos.

The Belgian Presidency of the Council of the EU presented its priorities for the six months of its mandate, stating that it will focus on completing the revision of the economic governance of the Union, on the continuation of the financial support given to Ukraine and on the legislation that regulates the banking union and that of the capital markets. In addition, it will continue the work on the proposals regarding a new set of EU own resources, to complete the revision of the Multiannual Financial Framework and to revise the legislation related to the Customs Code.

Also, the ministers took note of the economic and financial impact of Russia's aggression against Ukraine. The European Commission presented an update on the economic and budgetary situation in Ukraine, after which there were discussions about the financial support granted by the EU, as well as about the developments recorded in the use of frozen and immobilized Russian assets.